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Björn Freter in interview with the insurance messenger - Part 2

In the second interview of the three-part series of the insurance messenger with our Björn (Freter), the topic is again "E-Commerce in the insurance market". Björn is founder and managing director of our sum.cumo, a company dedicated to building superior digital business models in the insurance market. In our first interview Björn accused the industry of being too hesitant and uninspired in its approach to the topic "Internet".

Insurance offers: The changes you demand always involve investment. Not only in technology and transformation, but also in sales. How can insurers even keep up with the great appeal of online aggregators? Don't customers in the current price war change every year anyway?

Björn: For the general public, insurers' online offerings are still far too invisible. In general, "Check24" stands for the online insurance business. The brands and offers that are mediated on the platform fade into the background. Possibly existing, special offers and attractive online services of the insurers are not worthwhile for Check24 - this only makes the comparison more difficult. After signing up with Check24, the customers must first be transferred to the brand and product world of the insurer - this is now known as "digital onboarding". Those who do not succeed in doing so run the risk of losing the customer again in the next price war the following year.

Insurance bans: How can an insurer reach customers online even beyond the big aggregators? Isn't online marketing incredibly expensive?

Björn: In fact, basics like good search engine optimization are still neglected. Well-organized affiliate programs are also rather difficult to find and many agencies still find it difficult to do effective search engine marketing in the insurance market. So there is still plenty of room for new brands beyond Check24 and Co. on the Internet. And these do not always have to be the big ones. In social media and also on video platforms, insurers have to ask themselves exactly what they want to achieve. Insurance is simply not a lifestyle product. And insurance will never be cool. And it shouldn't be - I don't want it, I have to have it. But it can be friendly and competent and make the right offer at exactly the right moment - even after the first contract has been signed.

**Insurance offers: How can insurers ensure that they keep customers once they have won them? How can they intensify the business relationship with the new customer without personal contact, but online instead?

Björn: Online I am much more personally in contact than some people think. Or which broker is allowed to be heard by a customer in bed late at night? Online, with the right message at the right time, this is quite possible and perhaps even desirable via a smartphone. But of course there is more to keeping a customer than just bombarding him with messages or, in the worst case, advertising. In the best case, insurers will always remember that the customer did not really want insurance, but had to have it. The winner is the one who gives the customer the feeling that he is always at the right address and never has to change. To achieve this, an insurer's range of products and services must always be competitive in the target segment defined for the customer. Looking inwards is of little help here - it is important to analyse the competition and always stay one step ahead of trends. Anyone who succeeds in this can certainly cope with the investment in new technologies and forms of distribution, because they retain their customers in the long term and thus have the necessary staying power to enter the digital age.

You can find the first part of the interview (German) here.

The complete second interview in German can be found here.